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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Jdaasoc who wrote (27784)	9/17/2001 5:50:16 PM
From: pompsander	Respond to of 30051

Another important aspect of the long-term battle against terrorism is that we need to reduce our dependency on foreign energy. If we are going to galvanize this nation with an initiative against terrorism we can also protect ourselves and the generation behind us by reducing the economic leverage the Saudis and others have on us. How about a few billion dollars for a government initative to reduce foreign oil dependency through technology innovation? Fuel cells are improving rapidly and there are choices out there other than petroleum. What better time to tie all this into a package that is good for America AND will get the attention of the Saudis and others who believe we can always be blackmailed in order to feed our SUVs.

To: Jdaasoc who wrote (27784)	9/17/2001 6:10:30 PM
From: brightness00	Read Replies (1) \| Respond to of 30051

John, We burn oil and other carbonaceous fuel not because they are absolutely necessary but because they are cheap. There are plenty alternatives to oil if oil price rises, and there are plenty alternative sources of oil if oil price from the middle east rises. The primary hinderance to drilling in this country is the environmental lobby, which has more or less decided that the environmental cost of drilling is higher than the price of oil we can buy from abroad; a position I may or may not agree, and I'm sure the prevailing wind would change the moment overseas supply price changes. Saudis are no dummies; their well-head cost is little more than $2 per barrel (two dollars!); how much mark-up can they tag on before the next dozen lowest cost producer decide to ramp up production? On top of such ridiculous profit margin, the American motorists also pay the 50%-100% road tax that often than not get appropriated by politicians for unrelated pork barrels; average 200-300% taxation on gasoline in other Western countries. Even after that much fleecing at every level, gasoline is still cheaper than anything else to burn. Read Nobel Laureate Thomas Gold on the subject of the origin of carbonaceous fuel, and you will understand that hydrocarbon fuels are one of the most abundant substances in this part of the universe, including inside this planet. IMHO, we may well run out of oxygen first before we'd be able to burn up all the so-called "fossil" fuel. Saudis know it as well as the big oil companies; keep pumping. Jim